SaxoTV

Coleman: Further downside in AUDUSD

268 views
March 26, 2015 asia economy, aud, aud usd, audusd, audusd bearish, audusd support levels, audusd weakness, aussie, aussie dolalr, aussie dollar, aussie dollar weakness, aussie economy, aussie weakness, australia, australia currency, australia economy, australian dollar, australian dollar forex, australian economy, australian reserve bank, china hsbc flash pmi, china manufacturing, currencies, currency, currency cross, currency market, currency markets, currency pair, currency pairs, currency rates, currency strategy, currency trade, currency trading, currency trends, dollar, dollar strength, foreign exchange, forex, forex 2015, forex 2015 outlook, forex audusd, forex buying, forex exchange, forex idea, forex market, forex market overview, forex markets, forex saxo bank, forex selling, forex strategy, forex trade idea, forex trade ideas, forex trading, forex trading 2015, forextrading, fx, fx audusd, fx award, fx crosses, fx forex, fx interbank markets, fx investing, fx market, fx markets, fx options, fx saxo bank, fx spot, fx strategy, fx trade, fx trade idea, fx traders, fx trades, fx trading, fx trends, fx volatility, fx volatitily, fxmarkets, hsbc flash pmi, ian coleman, ian coleman first 4 trading, saxo, saxo bank, saxo bank saxo tv, saxo bank trading, saxo bank trading floor, saxo bank tradingfloor.com, saxo bank tv, saxo traders, saxo tv, saxo tv saxo bank, saxo tv trades, saxo tv trading, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxotv, sell audusd, selling audusd, social trading, trade, trade idea, trade ideas, trade view, trader, traders, traders tale, traders tale ian coleman, traders tale saxo tv, trading, trading floor, trading fx, trading idea, trading risks, trading strategy, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, tradingfloor.com trade ideas, tradingfloorcom, usd, usd bulls, usd index

Ian Coleman from First 4 Trading is looking for the downward pressure in AUDUSD to continue this morning. Technical indicators such as a bearish Head and Shoulders pattern, which has now broken to the downside, suggest further scope for downward momentum. AUD prices fell earlier in the week after the release of worrying economic data out of China, Australia’s largest trading partner. The latest HSBC flash PMI report showed that Chinese manufacturing retracted to an 11-month low, pushing AUDUSD from its two-month high of USD 0.7939.

Ian is looking to sell at the market open and at USD 0.7830. His two targets for the trade are USD 0.7770 and USD 0.7750. A Stop can be placed at USD 0.7860.

Join the conversation below to be a part of the social trading experience.

Non-independent investment research disclaimer

Full disclaimer